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Newcastle Coal Futures API And Machine Learning: Opportunities For Trading Automation

Do you want to learn as a developer how to use an API to track the pricing of Newcastle coal futures? This post will go into greater detail about it.

Machine learning is a branch of artificial intelligence that enables computers to learn without being explicitly programmed. It is a method that can be used to predict the future prices of Newcastle coal. The future price of Newcastle coal is determined by many factors, including supply and demand, geopolitical events, and weather patterns.

A Coal Prices API is a program that allows you to access real-time data on Newcastle coal futures. This data can be used for a variety of purposes, such as analyzing market trends and making trading decisions. The API is also used by automated trading systems, which allow users to make trades automatically based on market conditions.

Newcastle Coal Futures API And Machine Learning: Opportunities For Trading Automation

In order to predict the future price of Newcastle coal, we can use machine learning algorithms to analyze past price data and make predictions based on this data. Machine learning algorithms can be used to predict the future price of Newcastle coal and other commodities.

Bituminous coal, subbituminous coal, and anthracite are the three basic classifications of coal based on its chemical makeup. Anthracite is mined using underground mining procedures, whereas the first two are mined using surface mining techniques.

Commodities API

Newcastle Coal Futures API And Machine Learning: Opportunities For Trading Automation

Developers can get real-time data on valued commodities through the Commodities API, which is offered by more than 10 different exchange rate data providers for commodities pricing. The API contains numerous endpoints, each of which serves a distinct purpose. The endpoint can send API requests for data on one or more currencies, data on daily changes, value conversion, and time series data for one or more currencies. It can also send API requests for the most recent commodity rate information for all or a selected subset of currencies.

Depending on the commodity you’re looking for, this API will provide you with a variety of replies. In this instance, we’re interested in finding out more about coal. The coal symbol offered by the API (COAL) can be used to look up information about it:

{"data":{"success":true,"timestamp":1683666360,"date":"2023-05-09","base":"USD","rates":{"COAL":0.008},"unit":{"COAL":"per tonne"}}}

One dollar is equal to 0.008 tonnes of coal, as you can see in the response.

All You Have To Do To Utilize It Is:

  • Go to Commodities API and simply sign up, when you are done you’ll be ready to start using the API!
  • Employ the different API endpoints using the symbols given by the API depending on what you are looking for.
  • Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.

The Agriculture Rates API offers data with a two-decimal place precision in more than 170 different currencies. You can perform up to 100.000 API requests each month and receive data updates every 60 seconds, depending on the subscription you choose. This API also comes with a seven-day trial period.

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